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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
PortugalPortugal Producer Price Index MoM fell to 0.8% in July 2026
FMPMonthlyReleased August 2026
Portugal Producer Price Index MoM fell to 0.8% in July 2026, released August 2026, down 0.1% from June's 0.9% reading. The print exceeded the 0.5% consensus by 0.3%. The print is running well above the 12-month average of 0.43%. Over the past 3 months, Producer Price Index MoM averaged 0.9%, vs 0.87% in the prior 3-month window. The reading is in the 74th percentile of the trailing 24-month range.
Latest Release
0.8
Actual
0.5
Consensus
0.9
Previous
Median Absolute Error
±0.73 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: 0.8
Actual: 0.8
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.86 | COMMODITIES | Moves with | → View |
| EUR/USD | ▲ Direct | +0.74 | FOREX | Moves with | → View |
| GBP/USD | ▲ Direct | +0.62 | FOREX | Moves with | → View |
| USD/JPY | ▼ Inverse | −0.35 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Producer Price Index MoM (Portugal) was reported at 0.8% in August 2026. This beat the market consensus of 0.5% by 0.3%. The reading fell from the previous value of 0.9%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 0.32%, ranging from -1.1% to 2.4% across 11 releases.
WHY IT MATTERS
The trailing three releases averaged 0.87%, up from the prior three at 0.4%. Volatility over the past year (σ 0.9%) is comparable than the prior year (σ 0.89%).
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with EUR/USD, positively correlated (Bullish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.73%.
WHAT TO WATCH NEXT
The next release is scheduled for September 18, 2026.
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Producer Price Index MoM - PT
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About Producer Price Index MoM — Portugal
DEFINITION
Portugal's Producer Price Index MoM rose 0.800% in August, beating the 0.500% estimate. This marks a slight decline from July's 0.900%, indicating a modest easing in producer price inflation. The steady pace suggests continued pressure on input costs amid stable economic conditions. Updated 8/18/26
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 0.8 %, consensus 0.5 %. Prior reading (Jun 2026): 0.8 %. Before that (May 2026): 1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with XAU/USD (Bullish XAU, r=0.86) — a useful reference for commodities-focused traders.
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Economic Calendar - PT Events
| Friday, September 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 10:00 | PT | Producer Price Index MoM | 0.8 | 0.3 | 0.35 | Low | |
| 10:00 | PT | Producer Price Index YoY | 5.8 | 6.7 | 6.80 | Low | |
| 10:30 | PT | Current Account | -303.42 | 980 | 995.21 | Low | |